London-based cybersecurity company Garrison Technology has completed a £12 million Series A funding round. The investment was led by Touchstone Innovations, which committed £3.85 million to the round alongside BGF Ventures, NM Capital and existing angel investors. Touchstone Innovations first invested in Garrison in 2015, and following this new investment holds a 22.5 percent stake in the company.
The growing cybersecurity market is estimated to be worth $23 billion. Garrison has developed an anti-malware product that blocks the highest impact cyber threats to modern organisations, and provides an ultra-secure level of internet connectivity.
This new funding will enable the company to accelerate product development and commercialisation, and to continue to grow its team.
“Almost daily we read how major enterprises and governments are suffering from targeted and high-impact cyber-crime," said Jon Edington, Director of Technology Ventures at Touchstone Innovations, in a statement. "Garrison’s solution directly addresses this problem with an innovative and differentiated technology that has been shown to effectively remove whole classes of cyber threat.
Read more: Touchstone Innovations (Press release)